Naspers South Africa to unbundle MultiChoice

Media giant Naspers says it will unbundle its pay-TV unit. Naspers plans to list MultiChoice as a separate stock. The company says the decision will unlock value for its shareholders.

MultiChoice's DStv service is the biggest TV operation in Africa, broadcasting to some 50 countries, and was one of the first satellite companies to pioneer the then newly-minted digital broadcasting when it began in 1996.

It already has a stake worth $155-billion in Chinese company, TenCent. Naspers shares were up just under a percent when markets closed.